Updated Housing Variables on WKU CAE Website
Three Bowling Green/Warren County housing variables have been updated on the WKU Center for Applied Economics website.
Bowling Green/Warren County Housing Market Price Index:
The preliminary* November BG/WC HPI is 95.46. This represents a 6.9% increase in average prices over the month of October. However, this should be interpreted with caution as there were no sales of two bedroom homes in the area during the month of October and there was an 8.9% decline in the average price of four bedroom homes during that month. The November index was lifted by the sales prices of 4 two bedroom...
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Gasoline & Oil Prices: The Rest of the Story
In September we examined why declining oil prices had not translated into the usually corresponding drop in gasoline prices. Even after accounting for inventories, actual gasoline prices hovered about 20 cents higher than predicted based on the price of West Texas Intermediate (WTI) oil. James Hamilton, an economics professor at UC-San Diego and expert on oil markets, offers a very readable explanation on his Econbrowser blog. The short explanation, transportation problems have bottlenecked mid-continent and Canadian WTI crude at its major storage facility in Cushing, OK. As a result,... Read MoreDoes Remoteness Matter For Kentucky Incomes?
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- Published on Thursday, 10 May 2012 20:44
According to the 2008 United States Census, Kentucky ranked 47th of the 50 states in per capita income. Conditions in the lowest income counties in the state contribute heavily to this ranking. Various factors contribute to low economic development in Kentucky with remoteness as one of the key influences. Amelia Harshfield looks at the impact of remoteness on income in Kentucky.
Housing Market Indexes for Bowling Green/Warren County
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- Published on Sunday, 16 October 2011 20:06
Due to the limitations of the FHFA House Price Index for Bowling Green, we have created our own housing price index (HPI) and housing sales quantity index (HQI) for Bowling Green/Warren County. These new housing market indicators will be updated monthly by the Center. This local economic brief describes the methodology and data behind the index.
Why Haven't Gasoline Prices Fallen More?
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- Published on Friday, 30 September 2011 18:41
Oil prices have dropped substantially since the spring, leading to this question. Dr. Brian Goff examines monthly price data from 1990 to 2011, considering the influence of oil prices along with oil and gas inventories and “momentum” in gasoline price movements. Even with these other factors, gasoline prices, have, indeed, lagged behind the decline in oil prices. The opposite case, however, also arises, and usually, oil prices predict gasoline prices very closely.
The Economic Impact of WKU on Warren County
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- Published on Monday, 25 July 2011 12:18
Dr. Brian Goff estimates the impact of WKU on Warren County using two complementary empirical methods. By the indirect multiplier method, WKU accounts for roughly 26% of expenditures, 14% of jobs, and 10% of earnings in Warren County. The multi-county method finds that WKU's presence increased employment by about 3000, population by 6000, and the median housing value by $12,000 over the last decade relative to similar locations without a comparable-sized university.
How the Bowling Green MSA Fared in the Housing Market Crisis
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- Published on Sunday, 17 July 2011 14:37
Dr. Catherine Carey compares key variables affecting the housing market in the Bowling Green MSA with the nearby Owensboro and Elizabethtown MSAs. She finds that Bowling Green likely experienced a larger housing boom prior to the financial crisis, contributing to a slower relative recovery in the market for construction of new single family homes.
Spotlight on Bowling Green: Comparisons with Evansville
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- Published on Monday, 16 May 2011 18:50
Although the Evansville MSA nearly doubles the size of Bowling Green’s MSA, the two cities share many similarities. Yet, Evansville has outperformed Bowling Green during both non-recessionary and recessionary periods. In an attempt to understand the reasons for the performance differences, CAE contributors Stephanie Brockmann and Amelia Harshfield examine key economic data and assess other influencing factors.
What Declining Home Prices and Foreclosures Mean to Bowling Green
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- Published on Wednesday, 13 April 2011 15:35
Dr. Catherine Carey looks at home price appreciation rates and foreclosures since the start of the financial crisis. She concludes that even though home price appreciation rates remain very low in Bowling Green, providing a significant number of “good deals” on the market, tight credit conditions resulting from the financial crisis and continued economic uncertainty may be keeping many potential home buyers off the market.
